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Kolkata-based Jindal's plan was the only one that was submitted to the creditors till last week, as per the report. November 10 was the last date to submit the resolution plans for Future Enterprises Limited. ....
This comes at a time when Reliance Retail, owned by Mukesh Ambani, is also in the running to acquire the beleaguered company. Previously, Reliance Retail had requested an extension until 30 October to make a decision on its bid for Future Enterprises
Mukesh Ambani-controlled Reliance Retail is already in the race to acquire the company. Earlier, Reliance Retail had sought time till October 30 to take a call on its bid for Future Enterprises. ....
Future Enterprises have received resolution plans from Jindal (India) Ltd, Reliance Retail Ventures and GBTL Ltd under the corporate insolvency process. The newly appointed resolution professional Avil Menezes disclosed the names of these three entities as a provisional list of prospective resolution applicants . The RP has admitted Rs 12,265 crore of verified claims from lenders and Rs 23 crore of claims from fixed deposit holders. ....